BlackRock (BLK) – What Are Analysts Saying About This Stock?

Shares of BlackRock (NYSE:BLK) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $1,342.25.

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on BlackRock from $1,468.00 to $1,531.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Truist Financial set a $1,310.00 price target on shares of BlackRock in a research note on Thursday, October 15th. Barclays lowered their price objective on shares of BlackRock from $1,420.00 to $1,410.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Weiss Ratings lowered shares of BlackRock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, BMO Capital Markets raised their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the company an “outperform” rating in a research note on Monday, October 19th.

BlackRock Stock Down 2.4%

Shares of BLK opened at $1,147.61 on Monday. BlackRock has a 52 week low of $917.39 and a 52 week high of $1,187.17. The stock has a market capitalization of $177.73 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a fifty day moving average of $1,103.88 and a 200-day moving average of $1,064.04.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 14th. The asset manager reported $15.93 earnings per share for the quarter, topping the consensus estimate of $14.32 by $1.61. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the firm posted $8.43 earnings per share. BlackRock’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock will post 57.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BlackRock

Several large investors have recently added to or reduced their stakes in BLK. RMG Wealth Management LLC bought a new position in shares of BlackRock in the first quarter worth approximately $25,000. Addison Advisors LLC purchased a new position in shares of BlackRock in the second quarter worth $25,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in BlackRock during the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new stake in BlackRock during the 2nd quarter valued at $30,000. Finally, Putney Financial Group LLC bought a new stake in BlackRock during the 3rd quarter valued at $32,000. Institutional investors own 80.69% of the company’s stock.

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Private-market assets are projected to exceed $34 trillion by 2031, supporting BlackRock’s long-term growth opportunity in private equity, private credit and other alternative investments. Private markets assets forecast to exceed $34tn by 2031, says Preqin
• Positive Sentiment: BlackRock disclosed that its ownership of OMV rose above 5%, indicating increased exposure to the energy company, although the investment’s direct effect on BlackRock’s earnings is likely limited. BlackRock Lifts OMV Stake Above 5% Threshold
• Neutral Sentiment: BlackRock’s closed-end funds announced estimated distribution sources. The disclosure is routine and mainly provides investors with information about income, capital gains and potential return of capital. Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
• Neutral Sentiment: The SEC is reviewing whether existing ETF rules adequately cover newer crypto products beyond bitcoin and ether. Clearer regulation could benefit BlackRock over time, but uncertainty may slow product development in the near term. Crypto ETFs Already Go Far Beyond Bitcoin. The SEC Wants to Know If Its Rules Have Kept Up
• Negative Sentiment: A reported $6.3 billion Binance security breach triggered a crypto-market shock, sending BlackRock’s iShares Bitcoin Trust (IBIT) lower. Falling crypto prices can reduce ETF assets under management and fee revenue while damaging sentiment toward BlackRock’s digital-asset expansion. Binance’s $6.3B Hack Sends Bitcoin ETF Tumbling 5%

About BlackRock

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.